The biotech firm will issue 619,965 common shares and warrants to raise approximately $4 million in gross proceeds.
Silo Pharma (SILO) announced a definitive agreement for a private placement expected to generate $4 million in gross proceeds. The offering includes 619,965 common shares or pre-funded warrants, alongside Series A-3 and Series A-4 warrants.
The securities are priced at $6.452 each. The company did not disclose the intended use of proceeds or provide further details on the warrants’ terms.
Shares of SILO traded lower following the announcement, though the extent of the decline was not specified.